Rexel: cancels targets for 2020
(CercleFinance.com) - Business Continuity Plans have been deployed at the group level and across countries where Rexel operates.
"The vast majority of our distribution centers and branches are up and running and able to respond to customer needs, including emergency maintenance for critical activities such as hospitals, the food & beverage industry and the power sector," it said.
The board of directors has decided to postpone the next AGM until 25 June 2020 and to delay the dividend proposal for 2019.
Rexel has partially drawn its syndicated credit (550 million euros out of 850 million euros available) for à titre conservatoire to give it leeway in terms of cash.
The group has cancelled its targets for 2020, saying that it will provide new targets once it has better visibility.
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